§ 58-64-60. Contracts as preferred claims on liquidation. - North Carolina Statutes

§ 58‑64‑60. Contracts as preferred claims on liquidation.

In the event of liquidation ofa provider, all contracts for continuing care executed by the provider shall bedeemed preferred claims against all assets owned by the provider; provided,however, such claims shall be subordinate to the liquidator's cost ofadministration or any secured claim. (1989, c. 758, s. 1; 1995 (Reg. Sess., 1996), c. 582,s. 4; 2003‑193, s. 13.)